The Ritz-Carlton adds Bacara Resort & Spa to its portfolio
The Ritz-Carlton Hotel Company, L.L.C has announced a new addition to its collection of luxury hotel properties, The Ritz-Carlton Bacara, Santa Barbara.
Acquired from Pacific Hospitality Group, the 360-room resort in Goleta was sold to a pair of non-traded real estate investment trusts run by New York-based Carey Watermark Investors.
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Carey Watermark said it will rebrand the property as Ritz-Carlton Bacara, Santa Barbara.
The former Bacara Resort & Spa has undergone a multi-million-dollar renovation which included refurbishing all guest rooms and suites, as well as improvements to the resort’s six culinary venues.
Known for catering to celebrity guests, the 35-acre beachfront resort has a 2,000 sq ft spa and wellness centre and 70,000 sq ft of meeting space.
"We are delighted to welcome this iconic property into The Ritz-Carlton portfolio of nearly 100 hotels around the globe," said Hervé Humler, President and Chief Operating Officer of The Ritz-Carlton Hotel Company, L.L.C.
"The Ritz-Carlton's world-class service, led by the resort's fantastic Ladies and Gentlemen, together with the Bacara's history, will make The Ritz-Carlton Bacara, Santa Barbara a standout on this part of the California coast."
Michael Medzigian, Chief Executive Officer of Carey Watermark Investors added, "We believe that the extensive, recently completed renovations and the Ritz-Carlton rebranding, in combination with our further investment in strategic property improvements and implementation of value-add operational enhancements, will increase overall profitability and reposition the property at the top of its competitive set within both the Santa Barbara and the luxury Southern California oceanfront resort markets.”
A subsidiary of Marriott International, The Ritz-Carlton has 91 luxury hotels and resorts in 30 countries and territories.
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